Hi All!
I own a 64 Fuelie Coupe (Riverside Red / Red & white vinyl - originally a Florida car) that is undergoing a complete body-off restoration, done by a top notch restorer - he's restored at least 2 gold medal winners. The frame has been completely done, and the original 375hp motor, MINUS the fuel injection system (which disappeared long before I bought the car) completely and correctly rebuilt/restored. This is a numbers matching car. It has correct 64 hubcaps, but does not have KO's. Now the car is ready to have the process of reassembly begin.
Here's the problem - I paid WAY too much for the car - $30,000 - I knew nothing at the time. I've already spent over $50,000 on a car that I have learned is one of the "least desirable" C2's. It has an almost flawless, ALL original body, which is amazing, since this was anything but a babied car, and an interior that will need to be replaced. While the body looks amazing, for what it is, it will have to be painted. I do not own the fuel injection system (I do own the air cleaner in mint condition), but I can purchase it (very good quality) for about $7000.
I'm sure that you get the point of my dilemma. I don't know what to do. I know that the car would be outstanding when it's finished, but this thing is going to hit $70,000 before it's done - and that's without fuel injection or KO's.
I learned a LOT on this forum very soon AFTER buying the car, and almost immediately wanted to sell it, even at a 50% loss if necessary. My wife pressured me to keep it and go ALL the way with the restoration - guess it's usually the OTHER way around! The stress of this and the anger for being so stupid as to buy this car in the first place is intense. I feel like this is going to give me a nervous breakdown.
After all this, I can say in complete honesty, I don't even want the car. I mean, there were so many things wrong with the car, to replace EVERYTHING, and by that I mean ALL the details with the ABSOLUTE parts (I'm talking fuses, harnesses, etc.) with the CORRECT parts would cost even more...I feel that for the money I will have spent, I should have a Bloomington gold car, but, despite the quality of the restorer's work, I don't think that this will be the case. I've stayed away from this board for months because I'm so angry about my situation, and because I now truly hate the car, and have lost "interest" in Corvettes. This was supposed to be a fabulous and fun experience. Instead, it is a heart breaking nightmare.
I don't know if I should finish it, then hold on to it until I'm too old to drive (of course I won't drive it, since that would also lower the value), hoping to recover some of the cost, put it back together "as is" without body work, etc., and sell it at a loss, perhaps considerable. The one thing I can't do is to take the second option, and then just keep it and "enjoy it" as my wife now says. Enjoy it? I'd rather run it into a wall than keep a car that is still only partially done. At the moment, I can't even stand to go the shop and look at it. The restorer is now, perhaps rightly so, pressuring me to make a decision as to what to do...
I know that I will not be treated like a fool here - I already know that I was a fool to have bought the car. I don't even expect to get "help" here. What I do hope is that those of you who have far greater knowledge and experience will give me your thoughts, and perhaps, some half-way decent options. I don't expect to break even, but maybe there is SOMETHING that I can do.
I'm sorry that this was such a long post. Maybe other inexperienced readers and potential buyers can learn from it. Be VERY careful and KNOW what you are buying and getting involved with!
I own a 64 Fuelie Coupe (Riverside Red / Red & white vinyl - originally a Florida car) that is undergoing a complete body-off restoration, done by a top notch restorer - he's restored at least 2 gold medal winners. The frame has been completely done, and the original 375hp motor, MINUS the fuel injection system (which disappeared long before I bought the car) completely and correctly rebuilt/restored. This is a numbers matching car. It has correct 64 hubcaps, but does not have KO's. Now the car is ready to have the process of reassembly begin.
Here's the problem - I paid WAY too much for the car - $30,000 - I knew nothing at the time. I've already spent over $50,000 on a car that I have learned is one of the "least desirable" C2's. It has an almost flawless, ALL original body, which is amazing, since this was anything but a babied car, and an interior that will need to be replaced. While the body looks amazing, for what it is, it will have to be painted. I do not own the fuel injection system (I do own the air cleaner in mint condition), but I can purchase it (very good quality) for about $7000.
I'm sure that you get the point of my dilemma. I don't know what to do. I know that the car would be outstanding when it's finished, but this thing is going to hit $70,000 before it's done - and that's without fuel injection or KO's.
I learned a LOT on this forum very soon AFTER buying the car, and almost immediately wanted to sell it, even at a 50% loss if necessary. My wife pressured me to keep it and go ALL the way with the restoration - guess it's usually the OTHER way around! The stress of this and the anger for being so stupid as to buy this car in the first place is intense. I feel like this is going to give me a nervous breakdown.
After all this, I can say in complete honesty, I don't even want the car. I mean, there were so many things wrong with the car, to replace EVERYTHING, and by that I mean ALL the details with the ABSOLUTE parts (I'm talking fuses, harnesses, etc.) with the CORRECT parts would cost even more...I feel that for the money I will have spent, I should have a Bloomington gold car, but, despite the quality of the restorer's work, I don't think that this will be the case. I've stayed away from this board for months because I'm so angry about my situation, and because I now truly hate the car, and have lost "interest" in Corvettes. This was supposed to be a fabulous and fun experience. Instead, it is a heart breaking nightmare.
I don't know if I should finish it, then hold on to it until I'm too old to drive (of course I won't drive it, since that would also lower the value), hoping to recover some of the cost, put it back together "as is" without body work, etc., and sell it at a loss, perhaps considerable. The one thing I can't do is to take the second option, and then just keep it and "enjoy it" as my wife now says. Enjoy it? I'd rather run it into a wall than keep a car that is still only partially done. At the moment, I can't even stand to go the shop and look at it. The restorer is now, perhaps rightly so, pressuring me to make a decision as to what to do...
I know that I will not be treated like a fool here - I already know that I was a fool to have bought the car. I don't even expect to get "help" here. What I do hope is that those of you who have far greater knowledge and experience will give me your thoughts, and perhaps, some half-way decent options. I don't expect to break even, but maybe there is SOMETHING that I can do.
I'm sorry that this was such a long post. Maybe other inexperienced readers and potential buyers can learn from it. Be VERY careful and KNOW what you are buying and getting involved with!
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